KeyCorp Issues Pessimistic Forecast for Procore Technologies (NYSE:PCOR) Stock Price

Procore Technologies (NYSE:PCOR - Get Free Report) had its price objective lowered by equities researchers at KeyCorp from $96.00 to $77.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. KeyCorp's target price would suggest a potential upside of 20.69% from the company's previous close.

Other analysts have also issued reports about the company. Jefferies Financial Group decreased their price target on Procore Technologies from $100.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. UBS Group boosted their target price on shares of Procore Technologies from $105.00 to $110.00 and gave the company a "buy" rating in a report on Friday, February 14th. JPMorgan Chase & Co. cut their price target on shares of Procore Technologies from $97.00 to $85.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Mizuho lowered their price objective on shares of Procore Technologies from $75.00 to $65.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Finally, DA Davidson cut their target price on Procore Technologies from $80.00 to $60.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $81.18.

Procore Technologies Trading Up 1.3 %

Shares of NYSE:PCOR traded up $0.81 during trading on Monday, reaching $63.80. The stock had a trading volume of 1,082,207 shares, compared to its average volume of 1,736,585. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The stock has a market cap of $9.57 billion, a P/E ratio of -88.61 and a beta of 0.90. The business has a fifty day moving average price of $67.74 and a 200-day moving average price of $72.15. Procore Technologies has a fifty-two week low of $49.46 and a fifty-two week high of $88.92.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.46). Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The business had revenue of $302.05 million during the quarter, compared to analyst estimates of $297.72 million. As a group, analysts anticipate that Procore Technologies will post -0.15 earnings per share for the current fiscal year.

Insider Activity

In other Procore Technologies news, Director Connor Kevin J. O sold 6,410 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $77.33, for a total transaction of $495,685.30. Following the sale, the director now directly owns 1,244,188 shares of the company's stock, valued at approximately $96,213,058.04. This represents a 0.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $87.40, for a total value of $93,867.60. Following the transaction, the insider now owns 200 shares of the company's stock, valued at $17,480. This represents a 84.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 66,962 shares of company stock worth $5,041,588. 29.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Versant Capital Management Inc lifted its position in Procore Technologies by 92.1% in the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company's stock worth $27,000 after purchasing an additional 175 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of Procore Technologies by 61.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock valued at $29,000 after buying an additional 147 shares during the period. V Square Quantitative Management LLC boosted its stake in Procore Technologies by 37.8% during the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock valued at $44,000 after buying an additional 162 shares in the last quarter. Huntington National Bank grew its holdings in Procore Technologies by 161.6% during the fourth quarter. Huntington National Bank now owns 654 shares of the company's stock worth $49,000 after acquiring an additional 404 shares during the period. Finally, Hilltop National Bank bought a new stake in Procore Technologies in the fourth quarter worth about $53,000. Institutional investors own 81.10% of the company's stock.

Procore Technologies Company Profile

Procore Technologies, Inc engages in the provision of a cloud-based construction management platform and related software products in the United States and internationally. The company's platform enables owners, general and specialty contractors, architects, and engineers to collaborate on construction projects.